Is recession good or bad ?

achutty · Aug 7, 2009

RECESSION is the one common word we come across everyday for more than a year now. Everyday dailys and new channels, websites talk about jobloss, slashed profits and so on.

:coffee1. Can you discuss here if this RECESSION OF year 2008-2009 has affected you or people you know in anyways ?

2. We come across people with different view that - recession is good, recession is bad, recession can be expected, recession is un-expected, recession is worst now, recession is over and so on..!

Which coutries do you think fits in to each category ? Has it done good or bad ? Kindly share your views and experience.

Mythraeyi · Aug 8, 2009

Hi,

This recession is the worst since the Great Depression of the 1930's and in fact would have been a depression if not for the timely intervention of the US government with the bail outs. It has had a global impact and has increased unemployment, decimated stock markets, brought down the value of currencies and the value of homes. All in all pretty negative impact. The only positive fall out I think is the arrest in the growth of prices for homes which were spiralling out of control in the last couple of years.

achutty · Aug 9, 2009

Thank you very much for your valuable comment Ms Mythraeyi . There are certain other things if you think about, cut down of unnecessary costs and lavish spending, reduced and extra care in usage of resources, certain poorly performing business and firms have been wiped out or received warning signals to perform to their best, many many more...we shall wait for comments and new points from other members.